Bitkey vs Unchained

Bitkey is a mobile and hardware wallet developed by Block and designed for people new to Bitcoin who want simple, secure self-custody. The system combines a phone app with a wireless hardware device and an encrypted cloud backup, using a 2-of-3 multisig model to keep users in control of their funds. This structure allows users to recover access even if they lose their phone or the device, adding safety without relying on seed phrases.

The hardware, a sleek hexagonal device with a fingerprint sensor and NFC for phone pairing, eliminates the need for complex seed phrases, making it user-friendly. Sending Bitcoin requires both your phone and the Bitkey device, while smaller transactions can be approved using just your phone and Bitkey's server key if you've set spending limits. This balance appeals to people who want more security than just a phone wallet but don't want the complexity of most hardware wallets.

Users can set daily spending limits for app-only transactions, adding flexibility. The setup is quick, often taking just 5 minutes, and the app's clean interface is intuitive. The app allows Bitcoin purchases, shows balance in both sats and fiat, and offers recovery through trusted contacts in case of loss. It also lacks a screen, meaning you can't visually verify addresses on the hardware itself.

Bitkey's mission is to bring secure Bitcoin ownership to a global audience, especially those new to Bitcoin, by removing friction and avoiding the pitfalls of traditional backups. Their future vision includes broader international support, expanded wallet functionality, and continued emphasis on open-source development and user control. For beginners, Bitkey offers a straightforward, secure way to own Bitcoin with a polished user experience, though advanced users may want more flexibility.

Unchained is a Bitcoin financial services company focused on helping individuals and businesses secure their Bitcoin through collaborative custody. Their main product is a multisig vault that uses a 2-of-3 key setup, where the user holds two keys and Unchained holds the third. This setup allows users to maintain full control over their Bitcoin while enabling Unchained to assist in recovery if needed, without ever having unilateral access to the funds.

What makes Unchained unique is its emphasis on combining technical security with user support. Unlike standard hardware wallet setups that rely on a single point of failure, Unchained's model is resistant to user error and device loss. Even if you lose 75% of your devices or backups, you can still recover your funds with Unchained's help. Their system also facilitates inheritance by allowing next of kin to recover funds with proper documentation, making it especially appealing for those thinking about long-term wealth protection.

Unchained users appreciate the guided onboarding, live support, and optional concierge services that simplify the complex process of setting up multisig. The platform integrates with popular hardware wallets, and allows users to manage their funds through Unchained's dashboard or export and interact with their vault using open-source tools. The ability to spend from your vault without relying on the Unchained website gives users additional peace of mind.

The company's long-term vision is to build a robust financial ecosystem based on Bitcoin-native tools, including multisig-secured lending, inheritance planning, and business services. While the setup requires ID verification and Unchained knows the vault balances, many users view this trade-off as acceptable in exchange for improved recovery options and strong operational security.

Unchained is best suited for those seeking to remove single points of failure in their Bitcoin custody, want professional assistance when needed, and value redundancy and inheritance planning—all while retaining full self-custody.